PALM BEACH, Florida, Aug. 29, 2019 /PRNewswire/ -- The Latin America cannabis market is on pace to be one of the most exciting in the world. In fact, it has the potential to become one of the largest markets in the world with an estimated value of $9.8 billion, according to New Frontier Data. Colombia for example is just beginning to transform itself into a multi-billion-dollar cannabis producer for the pharmaceutical industry. In time, growers estimate that the country could capture as much as a fifth of a global market that could be worth $40 billion a year, according to Reuters. That's opening a wide range of opportunity for companies including The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF), Canopy Growth Corporation (TSX:WEED)(NYSE:CGC), Green Growth Brands Inc. (CSE:GGB)(OTCQB:GGBXF), Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB), and Charlotte's Web Holdings Inc. (CSE:CWEB)(OTCQX:CWBHF).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. just announced announce that it has entered into an exclusive distribution agreement through its subsidiary Urban Juve Provisions Inc. with Organic Medical Growth OMG3 Inc. for the exclusive distribution of Urban Juve products in Colombia and Brazil for a term of 5 years. OMG3 plans to commence distribution of Urban Juve hemp-infused products in Colombia. The first products to be offered will be Urban Juve's Face Moisturizer, Ritual Body Oil, and its signature Anti-Aging Serum. OMG3, through an exclusive 10-year distribution agreement, has access to more than 9,000 points of sale in Colombia (pharmacies and specialized stores). Through the same distribution partner, OMG3 can reach more than 44,000 retail locations in other countries in South America, including Brazil, Costa Rica, Panama, Argentina, El Salvador and Guatemala. Yield Growth and OMG3 intend to expand their distribution agreement to cover these additional territories.
"We are very pleased to welcome Urban Juve to our distribution portfolio and exclusively distribute their products in South America. In addition to creating in-house and co-branded hemp seed and cannabis-based product lines, our strategy is to bring major international brands to the market in the areas of cosmetics, therapeutic and pharmaceutical products," says Jorge Diaz, President & CEO of OMG3. "We strongly believe that the Urban Juve products will be an excellent addition to the current retail offer, finding their way to customers across borders due to their natural formulas and benefits. Urban Juve products will be initially distributed in Colombia, and we look forward to working with their team on expanding the reach within our network throughout South America."
Other cannabis-related developments from around the markets include:
Canopy Growth Corporation (TSX:WEED)(NYSE:CGC) just announced that it has received a license from Health Canada for its KeyLeaf Life Sciences facility in Saskatoon, Saskatchewan. Including the Smiths Falls site and the recently licensed BC Tweed extraction site, Canopy Growth now operates three significant extraction assets to support the throughput required for large scale value-add product development. Canopy Growth recently retrofitted the now fully licensed KeyLeaf facility in Saskatchewan, a company with over 50 years of experience in the extraction industry. This facility is expected to be online in the Fall of 2019 and has the capacity to extract up to 5,000 kilograms of hemp or cannabis biomass per day. The application for the license was submitted under KeyLeaf's previous name, POS Management Corp. and will be updated in due course. The newly licensed extraction platform is located in close proximity to Canopy Growth's large-scale outdoor hemp and cannabis grow operations. The Company looks forward to the additional capacity increasing production efficiency, augmenting output volume, and ultimately reducing operational costs for value-add products set to be rolled out in the Canadian recreational and medical markets at the end of calendar year 2019. "With this milestone, we are executing against the vision of making strategic investments today in order to deliver results over the long term," said Mark Zekulin, CEO, Canopy Growth. "This license will ensure we have the supply of extraction inputs for the medical, CBD, and recreational markets, especially the next generation of value-add, high margin cannabis products here in Canada."
Green Growth Brands Inc. (CSE:GGB)(OTCQB:GGBXF) just announced that it expects to open its 100th Seventh Sense Botanical Therapy mall-based shop on Thursday, August 8, 2019. The first Seventh Sense shop opened in early February. "This is a huge milestone for Green Growth Brands and Seventh Sense," said Peter Horvath, CEO of Green Growth Brands. "We believe we have created the largest and most valuable network of brick and mortar CBD shops in the country." Seventh Sense shops retail high-quality botanical therapy CBD-infused personal care and beauty products at affordable prices. The product offering includes over 100 SKUs across bath, body, face, therapeutic, and sleep categories.
Aurora Cannabis Inc. (NYSE:ACB)(TSX:ACB) just announced the completion of the previously announced plan of arrangement with Hempco Food and Fiber Inc. (TSX-V: HEMP) pursuant to which Aurora has acquired all of the issued and outstanding common shares of Hempco not already owned by Aurora, reflecting a valuation of approximately C$63.4 million on a fully diluted basis. Hempco is now a wholly-owned subsidiary of Aurora. The Hempco Shares will be delisted from the TSX Venture Exchange, and Aurora will apply to the relevant securities commissions for Hempco to cease to be a reporting issuer under Canadian securities laws. Hempco provides Aurora with access to low-cost, high-volume raw hemp material for the extraction of primarily cannabidiol ("CBD") and other cannabinoids, which is gaining recognition for potential health benefits across a wide range of applications. Aurora identified the potential of hemp-derived CBD early on, completing its first investment in Hempco in 2017, and has subsequently expanded its hemp-based infrastructure through targeted acquisitions and strategic partnerships, creating Aurora Hemp: an integrated operating unit executing the Company's Global Hemp Strategy. With expertise across genetics, extraction, product development, brands and distribution, Aurora Hemp is an end-to-end offering across the entire hemp value chain.
Charlotte's Web Holdings Inc. (CSE:CWEB)(OTCQX:CWBHF) just announced that Russell Hammer has joined the Company as Chief Financial Officer, effective tomorrow, August 15, 2019. Mr. Hammer, who has most recently served as an advisor in private equity investments, brings more than 30 years of finance experience in the retail, tourism and technology sectors. With his experience leading multi-billion-dollar multinational companies, he is the latest top-tier executive to join Charlotte's Web as the Company accelerates its growth and evolution into a global consumer packaged goods ("CPG") brand. Mr. Hammer replaces Rich Mohr, who as CFO has overseen the Company's successful transition to a publicly traded company and market leader in hemp CBD products. "Russ's appointment aligns perfectly to support the Company's evolution over the past few years from an early stage organization to a leading public company, into its next phase transitioning to a global CPG company. His breadth of international finance experience across a range of industries, as well as expertise in building operational infrastructure, applying forward-looking analytics, M&A, and accessing capital markets will help us scale the business in a financially stable way," said Deanie Elsner, CEO of Charlotte's Web.
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